In the first 4 months of the year, the province’s index of industrial production was estimated at increasing by 7.5% over the same period last year. In an effort to ensure the local sustainable development goals, the province has been implementing synchronous solutions, turning industrial production into a driving force for growth, contributing to the completion of the set targets in 2022.
Positive growth
In April 2022, the province’s industrial production continued recovering, with the prosperity of important export markets such as the US, Korea, Japan, Taiwan, and Hong Kong. The province's key production industries of woodwork, footwear, textiles... had new export orders. Many enterprises focused on recruiting workers in a large number to meet their signed orders. In addition, the effect of new-generation free trade agreements (FTAs) has also created advantages for enterprises in the process of accessing and expanding markets, along with the attention and direction of provincial leaders in the policy of safe, flexible adaption, effective control of Covid-19 pandemic, contributing to promoting the local industrial production activities.
Production at Vi Hao Co., Ltd. in Tan Uyen town
Regarding the results of production and business activities in the first months of 2022, Ho Song Ngoc, General Director of Dong A Corrugated Iron Joint Stock Company said that the domestic market still has a large space, so the company has continued increasing capacity, expanding its market share and investment. The company is cooperating with the world’s leading steel manufacturing company to invest in its 3rd factory project and is expected to reach 1.2 million tons/year in the next 5 years at the increasing demand for galvanized steel used in construction and industrial production.
Possibly seeing, the province’s industrial manufacture has continued playing an important role, promoting the local overall growth. The province’s IIP in April 2022 was estimated at increasing by 7.3% and 11.1% compared to the previous month and the same period last year. The figure over the past 4 years increased by 7.5% over the same period last year. Of these, the processing and manufacturing industry increased by 7.6%. This is a key industry, promoting the overall growth of the whole industry, accounting for 98.9% of the production value of the whole industry.
Focusing on in-depth development
Assessing the prospects for the second quarter and the whole year of 2022, many enterprises believe that with the motto of flexible and safe adaptation for development, along with the support of all-level authorities, sectors and localities, enterprises will continue maintaining production, accelerating development. Accordingly, 85% of enterprises assessed that their production and business situation in the second quarter will be stable and get better. Kitagawa Norukazu, Director of Panasonic Life Solutions Vietnam Co., Ltd., said that the pandemic in the province has been controlled very well. The company has continuously received many large export orders and it is operating at full capacity to meet these orders.
Binh Duong is now home to more than 9,000 industrial enterprises. Among them, FDI enterprises account for 24.7% of the number and 57.2% of industrial production value in the province. The export value of FDI enterprises in wooden furniture, machinery, equipment, textiles, garments, raw materials for the textile and garment industry, leather and footwear...accounts for over 79% of the province's total export turnover, with main markets like the US, Korea, Japan, Taiwan and Hong Kong.
Nguyen Thanh Toan, Director of provincial Department of Industry and Trade said that the process of restoring production and import-export activities at enterprises is facing many challenges, especially amid the complicated developments of the pandemic in the world. The war tension between Russia and Ukraine is also affecting export activities. The price of input materials has increased...But, enterprises are still making efforts for adaption and development. Along with that, the timely support policies for economic recovery in accordance with Resolution No. 11/NQ-CP of the Government were quickly implemented by the province, creating peace of mind and trust for the business community, contributing to helping the local industrial manufacture sector further maintain its growth momentum in the first 4 months of 2022.
In the spirit of proactively and drastically implementing "dual goals" of Covid-19 prevention-control and completion of the goals of 2022 with the highest efforts, leader of provincial Department of Industry and Trade said that in order to promote the development of industrial production in the remaining months of the year, besides effectively taking advantage of opportunities from free trade agreements to increase the local industrial production value, the department is further promoting industrial restructuring towards increasing the proportion of processing, manufacturing and auxiliary industries, prioritizing high-tech and clean industries with localization rate. Along with that, the department will strengthen innovation, digital transformation, high technology application; develop new business models and activities; promote e-commerce, etc. to support production and business for the local industrial enterprises.
Reported by Ngoc Thanh-Translated by Kim Tin
